The 8th World Halal Summit and the 9th Organisation of Islamic Cooperation (OIC) Halal Expo will commence in Istanbul on Thursday.

The two major gatherings on the global market for products and services conforming to Islamic guidelines (known as halal) will see the participation of nearly 500 exhibitors from 40 countries

The four-day events are expected to host some 40,000 visitors, 9,000 of whom are foreigners, including bureaucrats. Anadolu Agency is the global communications partner for the event.

The expo, considered the most important commercial cooperation platform on the halal market, aims to make Türkiye the hub of the halal market worth more than $7 trillion.

"The market is expected to reach $10 trillion in the next five years. The halal economy will shape the global market in the near future," said Yunus Ete, the head of the World Halal Summit council.

The OIC Halal Expo, under the theme "For Sustainable Trade: Explore all Aspects of the Growing Global Halal Industry," will gather sector representatives from various areas such as cosmetics, textiles, finance and tourism, especially food.

Businesses from other sectors such as logistics, publishing, packaging and education will also participate in the event. Over 50 international speakers will make presentations in 11 different sessions during the event that will end on Sunday.